Norden Group LLC Acquires 15,690 Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Norden Group LLC boosted its holdings in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 60.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 41,688 shares of the investment management company’s stock after purchasing an additional 15,690 shares during the quarter. Norden Group LLC’s holdings in TriplePoint Venture Growth BDC were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Two Sigma Advisers LP boosted its stake in TriplePoint Venture Growth BDC by 6.5% during the 4th quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company’s stock valued at $6,129,000 after purchasing an additional 50,800 shares during the period. Two Sigma Investments LP lifted its position in shares of TriplePoint Venture Growth BDC by 21.9% in the 4th quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock worth $5,004,000 after acquiring an additional 122,039 shares during the period. Marshall Wace LLP lifted its position in shares of TriplePoint Venture Growth BDC by 12.7% in the 4th quarter. Marshall Wace LLP now owns 364,591 shares of the investment management company’s stock worth $2,691,000 after acquiring an additional 40,952 shares during the period. Legal & General Group Plc lifted its position in shares of TriplePoint Venture Growth BDC by 1.3% in the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock worth $1,951,000 after acquiring an additional 3,418 shares during the period. Finally, Trexquant Investment LP lifted its position in shares of TriplePoint Venture Growth BDC by 35.5% in the 4th quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock worth $1,676,000 after acquiring an additional 59,462 shares during the period. Institutional investors own 12.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPVG has been the subject of a number of research reports. Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price objective on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $7.00 price objective (up previously from $6.50) on shares of TriplePoint Venture Growth BDC in a research report on Wednesday, July 16th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, TriplePoint Venture Growth BDC currently has a consensus rating of “Hold” and a consensus price target of $6.96.

TriplePoint Venture Growth BDC Trading Down 2.3%

Shares of TPVG opened at $6.92 on Thursday. TriplePoint Venture Growth BDC Corp. has a 1 year low of $5.53 and a 1 year high of $8.98. The stock has a 50 day simple moving average of $7.03 and a 200-day simple moving average of $7.06. The stock has a market cap of $278.39 million, a PE ratio of 7.44 and a beta of 1.46.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its earnings results on Wednesday, May 7th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 14.12% and a net margin of 36.10%. The company had revenue of $22.45 million during the quarter, compared to analyst estimates of $24.90 million. On average, sell-side analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 17.34%. TriplePoint Venture Growth BDC’s payout ratio is presently 129.03%.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.